This weekend, the final four NFL teams will face off to see who will meet in Super Bowl LII. Despite the decline in TV ratings – which experts attribute more to key markets shifting with team fortunes than perceived lack of patriotism – the Super Bowl remains the most visible & celebrated sporting event of the year.
We live in Minnesota’s Twin Cities of Minneapolis & St. Paul. Our city is hosting the Super Bowl in two weeks. I’ve been (somewhat) involved with the Super Bowl Host Committee work and last year, my wife and I decided it would be fun to skip our Spring Break trip and save the money to ‘staycation’ at this year’s Super Bowl’.
In addition to the game, we will spend some money to enjoy more than a week’s entertainment of shows, exhibitions, and parties in the #BoldNorth. The Twin Cities have a 10-day festival of Super Bowl events planned including a 7-story Ice Palace, amazing concerts (Pink, J-Lo, Chainsmokers, Dave Matthews, Kevin Hart, Ellie Goulding, and Gwen Stefani), and a number of Super Bowl themed events.
Super Bowl Game tickets – purchased on the secondary market – are not cheap, of course. The cheapest tickets typically go for 3-5x their face value (which are reserved for NFL Sponsors and a lottery of season-ticket holders of the teams that are playing in the game). There is no way for the general public to get tickets other than through StubHub.com, TicketCity.com, SeatGeek.com and other ticket resellers.
It’s not just Super Bowl tickets that are getting more expensive. As I noted in this recent post, the price of all kinds of entertainment has grown exponentially against inflation. But – our reasoning went – while the tickets would be expensive, we would not be paying the exorbitant airfare and hotel rates that out-of-towners would be splurging for either. That might cut the cost of this staycation in half.
Our plans are delightfully complicated by the tremendous performance of the hometown Minnesota Vikings. They are playing for a Super Bowl berth this weekend and are in a unique position – to be the first home team to ever play in the Super Bowl in their home stadium. While Super Bowl ticket prices generally decline as you get closer to the game, this year they have shot up +50% as the Vikes have won game after game. Tickets are expected to shoot up another +59% (6-7x face value) if they win their way into the Super Bowl this weekend.
As a result of this potential, my wife and I bought our seats a couple weeks ago – avoiding the run up in prices. At that point, the Vikings were said to have a ~30% chance of making the Big Game. We figured that we needed to buy ahead of the potential of them winning their way into the game – or get priced out of the market.
My son helped us analyze and equalize the potential scenarios by applying some methods from his recent college Statistics class. In the end, we will have either paid way too much or way too little for what the market will finally bear, depending on how the Vikings do. In the end, it is hard to factor in the once-in-a-lifetime opportunity to see your hometown team play a home game for the Lombardi Trophy.
We’ll definitely be cheering for them this weekend – and regardless of the outcome, looking forward to all of the Super Bowl hoopla we can enjoy over the next two weeks leading up to the game.
Would you go on vacation to the Super Bowl? #SkolVikings #BringItHome
Image Credit: Copyright, Minnesota Super Bowl Host Committee